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<br /> �, _. . � ____.-_ 97- i0��� . � ��� �`�'.j-
<br /> � TOQETHER WlTH all the��nproaemants now or hereafter erected on the property. and all easements. appurtenances. and , �v �
<br /> � fixtures now or hereafter a part of the property Ail rep�acements and addmons shall also be covered by th�s Secunry Instrument ` ��, :. �f,`
<br /> Ail ot the loregflmg is referred to u�th�s Securrty InsVument as the'Properly' � � "s
<br /> BORROYYEH C011ENAMS that BoROwer is IawtuUy se¢ed of the estate hereby conveyed and has the nght to grant and _ �;_
<br /> conveyr the Property and ihat the Roperty is unencumbered. except for encumbrances of record- �ortower wartants and wdl � � `_�.-_.
<br /> � defend aene►aity the tiUe to the Property aga�nst ali ctalms and Cemands,sub�ect ta any ertcumbrances ol record. {. � ,,
<br /> THIS SECURITV INSTRUMENT combmes unt(orm covenanis tor naUonal use and nor.�unilorn! r-�?venants wrth 4mrted j �______ '
<br /> variations Dy jurisdiction to Ca�stAute a undnrtn security�nstrument wvering real property � . �
<br /> UNIF06iM COVENANTS Bertow+er and lender eovertant and agree as toliaws • .
<br /> � 1. Payresent of Pvinaipal and tnterest: Prepayment and Lato Ch8r989. BoROwer shall promptry pay when t ,_
<br /> F , .' t. .. ,
<br /> � due the prinaRal ot and interest an the debt ev�denced by the Note anc!any prepaymenl and l�te charges due ur,der the Nate �
<br /> 2. Funsis foa Tasces and (ttsurance.Sub�ect to applicable Iaw or to a wrrtten wa�ver by Lender. Borrower shall pay E
<br /> " to Lender on the day monthly payments are due under the Note.until the Note is pa�d �n full. a sum('Funds'1 tor (a) yearry .
<br /> • taxes and assessments which may attam pnotity over th�s Secumy InsUument as a lien an tfia Praperty: (b) yeariy �easehold � ___ _ ____.________ _
<br /> . payments or ground rents on the PropeRy, rf any. (c)yearly hazard or properry insurance premiums, (d) yearty fiood msura+�ce
<br /> i Premiums,if any.(e) yearty mortgage insurance premiums, it any: and (�any sums payabie by Borrower to Lender�n accordance , • T
<br /> with the provisions of paregraph B. in lieu of the payment of mortgage insurance prem�ums. These rtems are calletf 'Esaow
<br /> ,: � ttems.' Lender may.at any time. collect artd hold funds in an amount not to exceed the maximum amount a lender for a , - _ _
<br /> federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures �- �, �� �
<br /> . ,.
<br /> Ad of 1974 as amended from time to time.12 U.S.C.�2601 et seq. ('RESPA'). unless another law that applies to the Funds , �_
<br /> � sets a lesser amaunt fl so. LPndar may. at any time. collect and hold Funds m an amount not to exceed the lesser amount ����
<br /> Lender may estimate the amaunt of Funds due on the basis of arrent data and reasonable estimates ot e�enditures of tuture � .,� _ _
<br /> Escxovr Items or atherwise in accordance with applicahle law. ���u�n ° .; .��� .
<br /> The Funds shail be held in an instituGon whose deposits are insured by a federal agency, instrumentaliry.or enGty( 9 �.; N
<br /> ' • Lender. 'rf Lender is such an institution) or in any Federal Home Loan Bank Le�der shall apply the Funds to pay the Escrow •. ��_r ,
<br /> • • Items. Lender may not charge Borrower for holding and apptying the Funds. annuslly anayzing the esaow account, or verdying �;=-��
<br />, �< � the Eserow Items, unless Lender pays Borrower interest on the Funds and applicabte law pertnits Lender to make such a ..
<br /> cl�arge. However. Lender may requite Borrower to pay a onefime charge tor an independent real estate tax repoRing service 3='
<br /> used by Lender in connection with this loan. unless applicable Iaw provides otherwise. Untess an agreement is made or `"""�'
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<br /> appticahle law requires interest to be paitl. Lender sh�;l -:ot be required to pay Bortower eny interest or eamings on the Funds. �
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<br />� � Burrotirrc�and Lende►may agree In writing. fiowever. ti�t interest shall he paid on the Funds. Lender shall give to Borrower. L .�
<br /> without charge,an annual accounting of the Funds, shewing �diis and debits to the Funds and the purpose tor which each --= - -���
<br /> debil to the Funds was made� The Funds are pledged as addiTManat security tor all sums secured by the Securily Instrument ; .
<br /> If the Funds held by Lender exceed the amounLs pemiiUe d to be he l d by a p pGcable law. Lender shall account to Borrower _..;f �� '"'--
<br /> for the excess Funds in aCCOrdance wfth the requirc{rents of applicable law. If the amount oi the Funds hetd by Lender at any � ���---=
<br /> - Ume is not suffident to pay the Escrow Items wherr due, Lender may so notify Bortower in writing. and. in such case Borrower -;-�;�. .
<br /> shall pay to Lender the amount necessary to make �the deficiency. 8orrower shall make up the deficiency in no more tha�i � - ^� _
<br />, '� • tweNe monthly payments. at Lenders sole discreetion. ::
<br /> fiis Secu' Insuument, Lender shall promptty�und to Borrower any Funds .I�a::`: • .��,:��„�.
<br /> Upon payment in tu[I of all sums secured by t My ;.
<br /> hefd by Lender. Ii,under paragraph 21.Lznder sha:; acquire or sell the Property. Lender,prior to:he acquisition or sale ot the � �t' _ ^:'";s��. �
<br /> Property.shall appty any Funds held by Lender at:'�e tme of acquisftion or sale as a credft against the sums secured by this .s�,-; �.°'••"� �`
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<br /> • � Securfry Instrument. �`.��• ��•� �
<br /> �� s�_ Aq�plication of Peymettte. Unless :�kra:le law provfdes othervvise, all payments received by Lender under .•
<br /> ' pas:r.�;l s 1 and 2 shall be applied: ftrst,to any pre�ayment cha:,��due under the Note: second,to amounts payable undEr . ` .,
<br /> paea�,:.�,c^•�2;thhd,to interest due:fourth,to principal due:and last,to any late charges due unde►the Note. . � '�� - �
<br /> 4. C i iarges; Uens. Borrower s h s 1 1 p a y a 3 t a x e s. a s s e s s m e n t s, c h a r g e s. fi n e s a n d i m p o s i�o n s a�utebte to th� ��;,� - �'�;��; .,
<br /> " _ Properiy whfch may attaln prfority over thts Sewr�tls s,strument, and leasehold payments or ground �ents. H�rF. 3oROwer shall ., ,�`,�v, .
<br /> pay these obBgaUons in the manner provlded in ��graph 2, or if not paid in that manner, Borrower st�aif;�� ihem on tims
<br /> �• '� dhectty to the persan owed payment Bortower shall pramptly fumish to Lender atl noUces oi amounts to t�s�aid under this �. ;y �.,
<br /> ��v�xi��. paragraph. tf Borrower makes these payments directy. BoROwer shatl promptty tumish to E.c-r.�er receipts evldencing the ,,,. ;��.
<br /> :'�':V{,-;��• a ents.
<br /> P Ym ,;•.�+*.
<br /> ' Borrower shall promptly dischame any lien whtch has priorily over thls Secur(ty Instrument unleu BoROwer: (a) agrees in ,
<br /> writing to the payment of the abligaUon secureQ 5��the lien in a manner acceptable to Lender. (b)contests ur good faith the --r�'-`
<br /> lien by, or deiends against enlorcement oi the?is^ n. legal proceedings which r..:he Lenders opinlan opera:e to prevent lhe - �-���
<br /> erttorcement of the Gen: or(c)secures from the n�ider of the lien an agreemer:s3tis(actory to Lender subordinaUng the lien to ��'�;;:
<br /> ° thls��idy Instrumerrt. M Lender detertnlnes that any part ot the Propeny 1s s�;ect to a Ilen whlch may attaln pdorfry over thls `�:�`•`�
<br /> Si;'��;;,
<br /> , Seass�?Snstrumeat,Lender may ar..� 9orrower a noUce identitying tre Uen. Bcr.awer shall satisty the fien or take one or more o' . , . �_ _
<br /> the actions sel forth a�ove wiihin *'v��ys of the ghrh+g of notice. �+����•-.
<br /> 5. Haaard o� �'�'operty9 7n�urance.Fr:�r=wer shall keep the i-t�.��-ac'+enfs now exlsting or hereafter erected on the �• � s-•°
<br /> Property insured agalnst loss by flre, hazards G•ai.,� withln the term °exx.����3 coverage' and any other t-�ds, including ��'�� ��` "{'�'F." °_
<br /> • tloods or flooding.for whfch Lender requ(res ins�r�;e. Thls insurance shalf�9 maintalned in the amounts a^W t�r the padods �,�f._•.`.,��;..�.�.(g�r�,_,r� ° :
<br /> �.i�i�'�'F:.
<br /> that Lender requUes. The(nsurance carrler provrding the Insurance shall be chosen by Bortower subjQCt to Lenders approval :r—--- :-
<br /> whlch shall not be unreasonabty nrhheld. If Bortower lails to malntaln coveeage described above. Lender may, at Lenders -
<br /> opUon,obtaln coverage to protect�Q�de�s�Ights in the Properry in accordance with paragraph T. : �,�;'`-
<br /> All Insurance poAcles and renewals shall be acceptebla to Lender and sh.af! include a standard moRgage clause. Lender ,:,�.rr,�,�Y�-
<br /> • sha11 hava the rlght to hold the policles and renewals. If Le�der requlres.Bamar�ar shall promptly gNe to Lender all recefpts of ��'y •.�
<br /> pald premlums and renewal noUces. In the event of loss.8orrower shall give C+u"�t noUce!o the insurance carrler and Lender. -�=°..�'!►;�;��i•_
<br /> Lertdr�may make proof o1 loss H not made prompUy by Borrower. ""R-''�`�"�'!'r'E0"'.:
<br /> •:��,_,�.� Grlc-ss Lender and Borrower otherwlse agree In writing, insurance proceeds shall be appic� to restoration or repalr of the °�^�� `_ -���,.__
<br /> �'���" � Prope:ly damaged,il the resto�at3on or repair is economicelly teasible and Lenders secudry is r.ot tessened.If the restoraUon or ;, _-.:��.�,�`•.•�.-�
<br />.ri��;"}`.-: repalr is not economtCalty teasble or Lender's securiry wou�d be lessened,the insurance proceeds shall be applted to the sums �..
<br /> • secured by thls Security Instrument. whether or not then due,with any excess paid to Bortower. It Bortower abandons the �����` `•'r�.
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<br /> � � Property, or does not ans�ver within 30 days a noUce trom Lender that the insurance cartier has oHered to settte a clalm.then .,�..�.r...•_
<br />� '°'•�s�". Lender may collecl the insuwnce Fr�;eeds. Leoder ma use the roceeds to repair or rastore the Properly or to pay sums , �
<br /> Y P "':?:�.r:-'
<br /> ����"•� � secu►ed by thls Security Instrument_ ��hether or not then due. The 30-dey petiod rdll begln when the notice Is given. ,
<br />;�;,�;:, •+ Unless Lender and Bortov�er ,at'erwise agree in writing, any applicaUon of proceeds to pdncipal shall not extend or .�; :.: �
<br /> ' postpone the due dffiQ of the mar.:;ly paymertis �e}erted to In paragraphs 1 and 2 or change the amount ot the payments. II � �
<br /> , under paragraph 2f tr+� Property is acquired b� lrrder. 8onowers dght to ar.y insurance policles and proceeds resulting hom 1 . , ,
<br /> • damage to the Prcp�. .ry prior to the acquisiticn sl•al pass to Lender to the oxcent of the sums by this Security Instrument � _
<br /> imrt:ediatety pdor to the ecquisitian �� _-
<br /> � G. Occupancy, Pr�sov+i3tion. Malntenance ar�� Protection o! the Properly: Borrower's Loan .
<br /> �• AppUcation; L88Sehold5. Bortower shall occupy. establish. and use the Property as Bortower's principal residence withln . . � '�•.
<br /> si�Ay days nfter the execuHon of thls Security I�strument and shall continue to occupy the Property as Bortower's prinapal
<br /> - residence for at teast one year after the date of occupancy. unless Lender otherwise agrees in writing. which consent shall not
<br /> ` • be unreasonabty withheld,or unless extenuating circumstances exist which are beyond Bortower's wntrol. Bortower shall not • . __
<br />" desVOy,damage ar impalr the Property. a11ow the Property to de2edorate. or commtt waste on the RopeRy. Bortower shall 6e in
<br /> ' deiaufl tt any forfeitere acllon or proceeding. whether civil or crfminal. �s begun that in Lender's good faith judgment could result
<br /> � in far(eiture of the Properry or otherwise matedalty impair the lien created by this Security Instrument or Lender's security inlerest. -
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